TEMPE, Ariz.--(Business Wire)--
Global Entertainment Corporation (AMEX: GEE) - a company engaged
in sports management, arena and related real estate development,
facility and venue management and marketing, venue ticketing and brand
licensing, announced today that it has entered into a Master License
agreement that awards Global exclusive rights to sell and market Arena
Racing USA Licenses within the western United States. Arena Racing
USA, founded in 2002, is the nation's newest league sport that offers
family-friendly and affordable entertainment in a very competitive
indoor racing environment and has established markets in Hampton
Roads-Norfolk, Virginia and Charlotte, North Carolina. Global's
established base in the central and western U.S. market provides broad
expansion opportunities to accelerate Arena Racing's league
development activities. Global's initial focus will be in strategic
markets where one of its subsidiary companies, Western Professional
Hockey League, operates the existing Central Hockey League's 16
franchise teams and the arenas that are currently managed by Encore
Facility Management, another Global subsidiary company. The agreement
is primarily focused on Global markets, however does not limit
Global's licensing rights as it expands into new markets.
Arena Racing USA consists of an exceptional investor group
comprised of Joe Gibbs of Joe Gibbs Racing (a NASCAR team owner), Tom
and Norm Miller of Interstate Batteries, and Gary Becker of PACE
Entertainment, under the operating leadership of Bob Keane and Ricky
Dennis, the founders of Arena Racing USA. Arena Racing is a unique
indoor half scale stock car racing league which is poised for
explosive growth over the next few years both domestically and
internationally. This unique family entertainment product
fundamentally serves the needs of sports league operators, arena
owners, race car drivers and teams, fans and sponsors in a nationwide
sports league.
"Global Entertainment and all of our subsidiary companies are
extremely pleased with the opportunity to help drive the growth and
participate in the development of this new and very exciting league.
It is our belief with the explosive growth of Stock Car Racing over
the past years that Arena Racing USA fills a void unlike any other
product and provides a new entry point for racers, team owners and
operators alike in the motorsports world. Arena Racing provides an
added value to our current market development activities with a new
entertainment attraction for the mid-sized communities we serve,"
stated Rick Kozuback, president and chief executive officer of Global
Entertainment Corporation.
"Working with major operators of both arena and league sports over
the past few months, Arena Racing USA is poised to support nationwide
up to five new licenses starting in the next 12 months to add to our
existing three markets. We are excited about the agreement reached
with Global Entertainment Corporation and look forward to a long and
successful relationship," stated Bob Keane, chief executive officer of
Arena Racing USA.
"We are excited about having an integrated sports marketing
company like Global Entertainment to work with the Arena Racing USA
team," stated Joe Gibbs of Joe Gibbs Racing, a NASCAR team owner.
"The entire investor group is excited about the potential of this
agreement and what it brings to Arena Racing USA and Global
Entertainment Corporation. My family and I personally believe this to
be, bar none, the most exciting arena venue family entertainment
product in the last 10 years," stated Gary Becker, former chief
executive officer of PACE Motor Sports and Entertainment.